How Taxes on Lottery Winnings Work

setting up a trust for lottery winnings
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Using trusts and LLCs It's common for lottery winners to set up a trust or a limited liability company, LLC, to claim their winnings from For some states,

Get your questions answered about the Colorado Lottery, Jackpot and Scratch games, where the money goes, and how to claim winnings

setting slot You must request it from the lottery office Next, there is an automatic 24% Federal Income Tax withholding Here, that amount would be 24% of

settingan slot online trust by the department and shall have at all times a market value equal The administrator shall withhold from lottery winnings any federal income